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REGISTERED NUMBER: 08489878 (England and Wales)















Labrador Ltd

Unaudited Financial Statements for the Year Ended 31 October 2017






Labrador Ltd (Registered number: 08489878)






Contents of the Financial Statements
for the Year Ended 31 October 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Labrador Ltd

Company Information
for the Year Ended 31 October 2017







DIRECTORS: C R Beharrell
S D R Beynon
J Lucy
J B Mangion
E R Wilkinson





REGISTERED OFFICE: 8 Greencoat Place
London
SW1P 1PL





REGISTERED NUMBER: 08489878 (England and Wales)






Labrador Ltd (Registered number: 08489878)

Balance Sheet
31 October 2017

31.10.17 31.10.16
Notes £ £
FIXED ASSETS
Intangible assets 4 275,610 43,767
Tangible assets 5 15,362 109
290,972 43,876

CURRENT ASSETS
Debtors 6 117,219 9,951
Cash at bank 267,142 180,994
384,361 190,945
CREDITORS
Amounts falling due within one year 7 (177,325 ) (65,088 )
NET CURRENT ASSETS 207,036 125,857
TOTAL ASSETS LESS CURRENT LIABILITIES 498,008 169,733

CREDITORS
Amounts falling due after more than one year 8 (91,060 ) -
NET ASSETS 406,948 169,733

CAPITAL AND RESERVES
Called up share capital 2,000 1,367
Share premium 1,238,653 384,869
Retained earnings (833,705 ) (216,503 )
SHAREHOLDERS' FUNDS 406,948 169,733

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of
its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 July 2018 and were signed on its behalf by:





J B Mangion - Director


Labrador Ltd (Registered number: 08489878)

Notes to the Financial Statements
for the Year Ended 31 October 2017

1. STATUTORY INFORMATION

Labrador Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered
office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting
policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK
and Republic of Ireland ("FRS 102") and the Companies Act 2006. The presentational and functional currency of these financial statements
is sterling. All amounts in the financial statements have been rounded to the nearest £1.

These financial statements for the year ended 31 October 2017 are the first financial statements of Labrador Ltd prepared in accordance
with FRS 102. The date of transition to FRS 102 was 1 May 2015. In the transition to FRS 102 from the Financial Reporting Standard for
Smaller Entities (effective January 2015) the company has made no measurement and recognition adjustments.

Going concern
The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding
or support will be more than adequate for the company's needs. In assessing going concern, the directors have a reasonable expectation that
the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from
the date of approval of these financial statements.

Turnover
Revenue is recognised to the extent that it is probable economic benefits will flow to the company and the revenue can be reliably
measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax
and other sales taxes.

Revenue from the sale of services is recognised in the period in which the services are provided.

Intangible assets
Research and development costs

Expenditure on research activities is recognised within profit or loss as an expense is incurred.

Development costs are capitalised only where they can be identified with a specific product or project that will generate probable future
economic benefits, the costs can be reliably measured and all the criteria under FRS 102 are met. They are amortised on a straight line basis
to profit or loss over their estimated useful life.

All other development costs are expensed as incurred.

Capitalised development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance is
written off to profit or loss.

Capitalised development costs are not treated as a realised loss under section 844(1) of the Companies Act as the directors believe that they
are subject to the permitted exception in section 844(3) as the costs have been capitalised in accordance with applicable accounting
standards.

Capitalised development costs are not treated as a realised loss for the purpose of determining the company's distributable profits as the
costs meet the conditions permitting them to be treated as an asset under FRS 102.

All intangible assets are considered to have a finite useful life. The estimated useful lives are as follows:


Website and operational platform - 3 - 5 years

At each reporting date the company assesses whether there is any indication of impairment. If such indications exists, the recoverable
amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is
recognised immediately as an expense within profit or loss.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes
expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the
manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable
amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is
recognised immediately as an expense within the profit or loss.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost less estimated residual value of each asset over
its expected useful life, as follows: -

- Computer equipment - over 3 years on a straight line basis.
- Plant & machinery - over 3 years on a straight line basis.

Labrador Ltd (Registered number: 08489878)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are
recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised
cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing
transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments
discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of
impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying
amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.

Current and deferred taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in profit or loss except to the extent that it
relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other
comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively
enacted at the balance sheet date.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods
different from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences
arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances
are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or
substantively enacted at the balance sheet date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the
reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Transactions in foreign currencies are translated to the company's functional currency at the foreign exchange rate ruling at the date of the
transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional
currency at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in profit or loss.

Liabilities and equity
Convertible debt

On the initial issue of convertible debt, the company allocates the proceeds between the liability component and the equity component. To
make the allocation, the company first determines the amount of the liability component as fair value of a similar liability that does not
have a conversion feature. The residual amount is allocated as the equity component. Any transaction costs are allocated between the debt
component on the basis of their relative fair values.

The liability component of the instrument is subsequently measured on an mortised cost basis, Any initial allocations are not revised in
subsequent periods.

Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the
company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment
obligation.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in creditors as a liability in
the balance sheet. The assets of the plan are held separately from the company in independent administered funds.

3. STAFF NUMBERS

The average number of employees during the year was 6 (2016 - NIL ) .

Labrador Ltd (Registered number: 08489878)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

4. INTANGIBLE FIXED ASSETS
Website and
operational
platform
£
COST
At 1 November 2016 53,450
Additions 269,573
At 31 October 2017 323,023
AMORTISATION
At 1 November 2016 9,683
Amortisation for year 37,730
At 31 October 2017 47,413
NET BOOK VALUE
At 31 October 2017 275,610
At 31 October 2016 43,767

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 November 2016 - 999 999
Additions 6,123 11,426 17,549
At 31 October 2017 6,123 12,425 18,548
DEPRECIATION
At 1 November 2016 - 890 890
Charge for year 1,043 1,253 2,296
At 31 October 2017 1,043 2,143 3,186
NET BOOK VALUE
At 31 October 2017 5,080 10,282 15,362
At 31 October 2016 - 109 109

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.17 31.10.16
£ £
Other debtors 105,546 7,751
Prepayments and accrued income 11,673 2,200
117,219 9,951

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.17 31.10.16
£ £
Trade creditors 49,073 36,630
Social security and other taxes 20,618 -
Other creditors 1,367 6,708
Accruals and deferred income 106,267 21,750
177,325 65,088

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.17 31.10.16
£ £
Convertible loan 91,060 -

Labrador Ltd (Registered number: 08489878)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

9. RELATED PARTY DISCLOSURES

During the year the company received loans totalling £253 (2016: £5,315) from directors of the company. During the year, the company
made repayments to the directors of £5,593 (2016: £2,267). As at 31 October 2017, Labrador Ltd owed £1,368 (2016: £6,708) to the
directors. All balances attract a nil rate of interest and are repayable on demand.